Innodata (NASDAQ:INOD) Stock Price Up 7.4% – What’s Next?

Innodata Inc. (NASDAQ:INOD)’s stock price rose 7.4% during trading on Monday . The company traded as high as $45.25 and last traded at $44.14. Approximately 632,466 shares were traded during trading, a decline of 16% from the average daily volume of 750,986 shares. The stock had previously closed at $41.08.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Craig Hallum started coverage on Innodata in a report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target for the company. BWS Financial upped their target price on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Innodata Price Performance

The firm has a market cap of $1.18 billion, a PE ratio of 74.81 and a beta of 2.30. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $25.86 and a two-hundred day moving average price of $19.38.

Insider Buying and Selling

In related news, Director Stewart R. Massey sold 50,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total value of $2,027,500.00. Following the completion of the sale, the director now owns 25,262 shares of the company’s stock, valued at approximately $1,024,374.10. This trade represents a 66.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jack Abuhoff sold 187,099 shares of Innodata stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.07, for a total transaction of $8,619,650.93. Following the sale, the chief executive officer now directly owns 1,188,358 shares in the company, valued at approximately $54,747,653.06. The trade was a 13.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 666,376 shares of company stock valued at $30,335,517 over the last ninety days. Company insiders own 15.23% of the company’s stock.

Hedge Funds Weigh In On Innodata

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Innodata by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after purchasing an additional 28,173 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Innodata by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after buying an additional 982 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Innodata by 19.1% in the second quarter. Bank of New York Mellon Corp now owns 78,057 shares of the technology company’s stock valued at $1,158,000 after acquiring an additional 12,515 shares during the period. nVerses Capital LLC purchased a new position in shares of Innodata during the second quarter worth approximately $27,000. Finally, Rhumbline Advisers increased its holdings in shares of Innodata by 19.2% in the 2nd quarter. Rhumbline Advisers now owns 37,725 shares of the technology company’s stock valued at $559,000 after acquiring an additional 6,066 shares during the period. Institutional investors and hedge funds own 30.75% of the company’s stock.

About Innodata

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.